Man announces strategic partnership with Nephila Capital to broaden alternative product offering.Man announces strategic partnership with Nephila Capital to broaden alternative product offeringMan Group plc, a leading global alternative investment management firm, announces it has agreed to acquire a 25 per cent interest in Nephila Capital Ltd. Nephila is a specialist alternative investment manager working with insurance-based instruments such as insurance-linked securities, catastrophe bonds catastrophe bond A debt security with a payoff tied to the relative severity of a natural disaster such as a hurricane or earthquake. Bondholders are paid with insurance premiums but may have to accept reduced principal repayment in the event the specified , insurance swaps and weather derivatives Weather derivatives are financial instruments that can be used by organizations or individuals as part of a risk management strategy to reduce risk associated with adverse or unexpected weather conditions. . Through its proprietary investment strategies, Nephila provides access to uncorrelated sources of returns. Established in 1998, Nephila is headquartered in Bermuda, employs 25 staff and has approximately $2.4 billion1 under management. Combining Nephila's experience with Man's depth of resources and market reach will create significant value for both investors and shareholders. The minority stake in Nephila Capital will be part of Man's multi-strategy private equity manager, Man ECO E·co , Umberto Born 1932. Italian writer best known for his novels, including The Name of the Rose (1981). He has also written extensively on semiotics and British and American popular culture. , which specialises in environmental finance. Nephila's three managing principals, Frank Majors and Greg Hagood, who are co-founders of the firm, and Barney Schauble, will continue to manage the business and the underlying fund investments. The CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Man Group plc, Peter Clarke Peter Clarke may refer to:
An instrument used by companies to hedge against the risk of weather-related losses. The investor who sells a weather derivative agrees to bear this risk for a premium. If nothing happens, the investor makes a profit. markets offer significant opportunities for uncorrelated alternative investment returns. We are excited at the prospects of this strategic partnership and what it means for our and Nephila's investors." Frank Majors said, "We are delighted to join Man in a partnership that will open up international markets and allow us to focus on evaluating investment opportunities and portfolio management." [c] 2008 Al Bawaba (www.albawaba.com) |
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